The director shall promulgate rules to carry out the purposes of RCW 51.14.150:
(1) Governing the formation of self-insurance groups for the purposes of this chapter;
(2) Governing the organization and operation of the groups to assure their compliance with the requirements of this chapter;
(3) Requiring adequate monetary reserves, determined under accepted actuarial practices, to be maintained by each group to assure financial solvency of the group; and
(4) Requiring each group to carry adequate reinsurance.